Railway group Italo to offer 35-40 percent of shares in IPO

NTV Italian rail operator CEO Flavio Cattaneo looks on during an interview with Reuters at the NTV headquarters in Rome, Italy, January 17, 2018. Picture taken January 17, 2018. REUTERS/Max Rossi

MILAN (Reuters) - Italian high-speed railway group Italo said on Tuesday it would offer between 35-40 percent of its shares in an initial public offering expected to be completed by February, subject to market conditions and regulatory approvals.

The offer, reserved to institutional investors, includes a greenshoe option representing up to 15 percent of the shares offered, the company added.

Italo has filed an application for the listing of its shares on the Milan bourse.